Dennis H. Nelson, President and CEO of Buckle Inc. (NYSE:BKE), recently sold a portion of his common stock holdings in the company. According to the SEC filing, Nelson disposed of 100 shares at a price of $48.0305 per share, resulting in a total transaction value of $4,803. The stock, which has gained over 35% in the past six months and currently trades near $48.50, appears slightly undervalued according to InvestingPro analysis. Following this sale, Nelson’s direct and indirect ownership includes 324,000 shares directly, 1,739,734 shares held by a trust, 67,500 shares held by his wife, and 13,613.21 shares held by a 401(k) plan.
The transaction, dated January 17, 2025, was conducted through a family trust, though Nelson disclaims beneficial ownership of these securities, according to the filing.
In other recent news, Buckle has announced a downturn in Q3 2024 net income and sales. The company’s net income dipped to $44.2 million, a notable decrease from the previous year’s $51.8 million. Similarly, net sales fell by 3.2% to $293.6 million. Despite a minor uptick in online sales and women’s denim, a significant drop in men’s merchandise and footwear sales contributed to this decline.
These recent developments also include a 1.1% growth in online sales, indicating positive outcomes from Buckle’s digital investments. However, the company also reported a 0.7% decrease in comparable store sales.
Buckle plans to open an additional store and complete seven remodels by year-end. Looking forward to 2025, the company anticipates opening 7-8 new stores, resulting in a net addition of 2-3 stores. Despite facing challenges, Buckle remains committed to expansion and digital investments in its pursuit of future growth.
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